Results 6,761-6,780 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: Fair enough. I call Deputy Mathews first.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: The Deputy has about one minute left if he wishes to ask a question and I will afford the witnesses a chance to respond.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: I remind the Deputy-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: I will give the Deputy space but he must listen to me for a moment as I am trying to assist him. The members of the committee ask questions and the witnesses respond. The committee wishes to hear evidence and that is provided by the witnesses, not by members of the committee.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: The Deputy is out of time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: Is it a question or a comment?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: Thank you, Deputy. I believe you are required in the Chamber. I call Senator Healy Eames.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: I will not allow individual's names or circumstances.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: I am just forewarning the Senator.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: The Senator must be very brief.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: The Senator is finished. I want to conclude. We are unravelling a difficulty that has been created over the years but there is new mortgage lending and despite the difficulties of the present period, members of the public will continue to be home buyers. That is going to remain a fact and that is going to be the option of choice for most people who can afford it. I wish to speak to the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: What sort of ratios is the bank applying to those loans, in terms of income?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: What is the LTV limit? Is it 92%, 95%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: The schedule-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: What is the schedule of those mortgages? Are they typically for 20 or 25 years or are we seeing a continuation of the 35 year mortgages?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: So there are still 35 year mortgages being issued. In terms of the methodology, are bonuses being paid for reaching new lending targets?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: Is there any occasion where the LTV is 100% of the property value because the valuation is in excess of the real value? I ask this in the context of the setting of an LTV requirement by the Central Bank. Let us take a house that is being sold for €200,000. A potential buyer can borrow €200,00 based on his or her income. Let us say that a person wants to purchase a house for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: Is Mr. Brown saying categorically that this type of thing is not happening at Ulster Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Ciarán Lynch: I must bring the discussion to a conclusion. I thank the witnesses for assisting the committee today. This meeting is one of a series of engagements we are having in the coming days with representatives of the banks. I appreciate the frankness and openness with which the delegates engaged with us and their commitment to provide any information that was not to hand. I look forward to...